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Woodside downgraded following Pluto LNG troubles

Moody’s has downgraded the troubled Western Australian Woodside Petroleum to Baa1 with a negative outlook in response to the delays and cost overruns of its Pluto LNG project, the credit ratings agency announced on Tuesday.

11 October 2011
Exploration & Production

China, Australia, India and Indonesia hold 40% of global CBM

Nearly 40% of the world’s coal-bed methane (CBM) reserves sit under China, Australia, India and Indonesia, according to a new study on the region. However, efficient and cost-effective large-scale development will require firm and clear regulatory frameworks, it cautioned.

10 October 2011
Exploration & Production

CNPC unit and Australia's Dart Energy drill CBM wells in Xinjiang

PetroChina Xinjiang Oilfield, a unit of China National Petroleum Corp. (CNPC), has begun drilling exploratory coal-bed methane (CBM) wells in the Xinjiang Uyghur Autonomous Region in collaboration with Australia's Dart Energy, a representative from the Australian company told Interfax on Monday.

10 October 2011
Exploration & Production

Australia itching for FID on Ichthys LNG Project

Ichthys $23 billion Australian LNG project will help take Australia from being a regional hub to a "global leader" in LNG with export volumes second only to Qatar, said Martin Ferguson, Minister for Resources and Energy, on Thursday.

6 October 2011
Policy & Regulation

Australia’s ASX Group aims to improve disclosure rules for oil and gas companies

Australia’s ASX Group published a review paper entitled Reserves and Resources Disclosure Rules for Mining and Oil & Gas Companies on Wednesday which aims to improve the disclosure rules for oil and gas companies operating within the country.

5 October 2011
Companies & Finance

Arrow-Bow marriage is the latest Aussie CBM union

Small exploration and development companies in Australia have become attractive acquisition targets for foreign majors. Sara Stefanini looks at the impact these mergers will have on the Australian coal-bed methane industry.

4 October 2011
Supply & Demand

New Australian LNG will rely on stronger Asian demand

As LNG demand from Asian heavyweights such as Japan, China and India is expected to grow significantly in the next five to 10 years, they are likely to benefit from the surge in new Australian LNG supplies due to come on stream in the same period, according to a new study by Fitch Ratings.

3 October 2011
Exploration & Production

Apache aims to begin Aussie Balnaves development in 2014

Apache’s Australian subsidiary Apache Julimar plans to begin its $438 million development programme for the Balnaves oil and gas field in the offshore Julimar and Brunello reserve in 2014, the Texan company announced on Friday.

3 October 2011
Companies & Finance

ConocoPhillips buys 75% stake in Australian shale gas field

ConocoPhillips has reached a deal with New Standard Energy to buy a 75% stake in the Goldwyer shale gas project for $109.5 million, the companies announced on Friday.

30 September 2011
Exploration & Production

New South Wales CBM moratorium forces Dart to refocus exploration

Dart Energy has decided to refocus their exploration to its PEL428 petroleum lease, near the city of Newcastle, Australia, following a moratorium by the NSW government.

29 September 2011
Companies & Finance

Arrow strings up Bow takeover for $522 million

Australia’s Arrow Energy has won approval for its takeover of coal-bed methane (CBM) explorer Bow Energy after raising its offer to $521.8 million (A$535 million), making way for further consolidation in the booming Australian CBM-to-LNG market.

26 September 2011

East Timor hopes to resolve Greater Sunrise dispute by 2012

The government of East Timor and Australia’s Woodside Petroleum could resolve a dispute over the Greater Sunrise LNG liquefaction project in 2012, President Jose Ramos-Horta said in a television interview on Friday, adding that putting an onshore gas plant on the island remains the best option.

23 September 2011

Australia gives Wheatstone LNG the environmental green light

Chevron on Thursday received the Australian government’s environmental approval for its $27 billion Wheatstone LNG project.

22 September 2011

Australia puts carbon tax legislation to parliament

Australia’s Labour government today introduced its controversial carbon tax legislation into parliament, a move designed to put a price on greenhouse gas (GHG) emissions from mid-2012.

13 September 2011

Australia gives environmental nod to Julimar, Brunello fields

American oil and gas major Apache has received the Australian government’s environmental approval to develop the offshore Julimar and Brunello gas fields, which will supply the Chevron-operated Wheatstone LNG project, Apache announced on Wednesday.

8 September 2011

Osaka Gas negotiating for a stake in Australian Ichthys LNG project

Japan’s Osaka Gas and Inpex are discussing the possibility of Osaka Gas buying LNG supplies and an equity stake in the Western Australian liquefaction project, according to news reports this week.

7 September 2011
Exploration & Production

Australian gas industry launches pro-CBM campaign

Australia’s leading oil and gas industry association is kicking off a campaign highlighting the environmental benefits of gas-fired energy when compared with many other types of fuel, in response to growing opposition to coal-bed methane (CBM) – the source of several new LNG projects in development.

5 September 2011

Browse LNG’s tug of war

News this week suggesting that the Australian government pressured the Browse LNG Development joint venture (JV) partners into building the station at the controversial James Price Point and accepting a tight timeline, highlights the disagreements that many analysts see as detrimental to the Western Australian project.

2 September 2011

Browse LNG site omitted from Australian national heritage listing

Woodside Petroleum’s planned Browse LNG Development received a boost on Wednesday from the Australian government’s decision to omit the liquefaction station’s site from the west Kimberley area’s addition to the National Heritage List.

1 September 2011

Western Australia gives environmental OK to Chevron’s Wheatstone LNG

Chevron Australia has received environmental approval for its $27 billion Wheatstone LNG project from Western Australia’s (WA’s) Environment Minister, Bill Marmion.

31 August 2011

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